I frequently get questions about home care benefits for Veterans, particularly on the Aids and Attendance Pension Benefit.If you are a Veteran or a surviving spouse of a veteran you could have benefits for home care assistance that you are unaware of. Here is some valuable information on the Aids and Attendance Pension Benefit that could be a great financial help to you.
Watch this video on the Aids and Attendance Pension Benefit and then get the facts below.
Aid and Attendance Pension Benefit
The Aid & Attendance level of the pension benefit is very substantial for those who qualify. In 2009, the maximum annual benefit is: Read the rest of this entry »
According to American Association for Long Term Care Insurance, there are 4 mistakes you want to avoid:
1. Waiting too long to start planning. You don’t have to buy insurance protection today; but at least find out what a policy will cost. If you take prescription medications or have health conditions, find out if you can qualify. Ask what health changes might make you ineligible to qualify.
2. Believing it won’t happen to you. Denial is the best reason not to plan. And, honestly, we hope you live a long life … never have an accident or illness. Yes, we hope you never need long-term care. We also hope you never have a car accident. But hope is not a strategy. Planning for the future is.
3. Counting on government programs. If you are age 50 to 55, are you need to be ready to count on Medicare and Medicaid to pay for the care you want in 15 or 20 years. Everyone wants someone else to pay the bill. If you prefer having choice, options and independence, then you’d better have a plan in place … just in case.
4. Not working with a long-term care insurance professional. As you’ll find us saying many times, costs vary between insurers, discounts vary between insurers, as well as acceptable health conditions. You want to work with an experienced and knowledgeable professional who stays current on policies and can get you the best coverage for the best price. Are we biased in favor of our Association members? You bet!
Long-term health care requires comprehensive financial planning and preparing. Before you get overwhelmed, here is some helpful information to help you understand your options.
There are nine common methods to acquire money for long-term care. Some are widely available, while others have strict eligibility requirements. Read through these options, and then decide what combination of sources will provide the most benefits to you or your loved one.
Medicare is simply a Federally funded health Insurance plan for individuals over age 65. It doesn’t pay, according to the Centers for Medicare & Medicaid Services, for the following:
·24-hour-a-day care at home
·Meals delivered to your home
·Homemaker services like shopping, cleaning, and laundry when this is the only care you need, and when these services aren’t related to your plan of care
·Personal care given by home health aides like bathing, dressing, and using the bathroom when this is the only care needed
When often talking with clients and their families, I have found that Medicare is misunderstood as far as home care is concerned. Many seem to believe that once they are 65 all their health care needs will be taken care of. Sadly, they quickly find out that it isn’t the case when they need assistance at home.
So, I thought I would help to dispel this myth in the next several entries to our blog. Starting with, what is not covered by Medicare, then, who is eligible for Medicare, and lastly what is covered by Medicare as it relates to home health care.
